Monday, May 21, 2012

5.22.2012 Top Down

US Bonds
Nothing
US Bond Yields

Open Interest
Nothing
Cable Open Interest Chart
Fiber Open Interest Chart

Equities
No failure swings but check out the reaction levels.  DJA hits 62% and old resistance, S&P 50% and old resistance, NASDAQ a little bit below 50% and old resistance.  For now it appears risk on trading.

Calendar
Nothing too earth shattering.
Forex Calendar

USDx
Using today's swing you see an OTE at 81.22 which has confluences with a number of other resistance levels.


Interesting enough note that cable refuses to make lower low when USDx makes higher high showing strength for the cable.  Not too significant yet but something to keep an eye on.


SMT


Looking at a line chart of close values you can see SMT bearish divergence between Friday's close and today's.


However, when you look at a candle chart you see it is not too significant.


Look at the 1 hour and it makes you think again.  They have run up fiber but cable, with more relative strength has stayed almost flat the entire time.  Are they going to pop it?  Did they keep it flat because of some EUR/GBP manipulation?


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